John Okiyi-Kalu, a former Commissioner for Information in Abia State, revealed that the immediate past governor, Okezie Ikpeazu, left a net credit balance of ₦3.48 billion for the current administration led by Governor Alex Otti. This information comes from the Abia Forensic Audit report conducted by Klynveld Peat Marwick Goerdeler (KPMG), a multinational professional services network.
Okiyi-Kalu’s statement responds to Governor Otti’s allegation of inheriting a substantial debt from his predecessor. On April 6, 2024, Otti claimed he inherited a ₦192.2 billion debt from Ikpeazu’s administration.
Countering this claim, Okiyi-Kalu emphasized that Ikpeazu left funds for the new administration. He pointed out that cash in the bank differs from other near-cash assets, such as a 3.5 percent share in the Aba Independent Power Project (IPP) Geometric, now valued at ₦80 billion.
Okiyi-Kalu criticized Otti’s financial management, noting, “So far, Otti’s government has spent ₦9 billion on a subhead called ‘research and development.’ What is he researching and developing in Abia State? Check the quarterly financial reports published by his administration, if in doubt.”
He also questioned Otti’s credibility, stating, “Based on antecedent, never trust anything said by Governor Otti. He lies and misrepresents facts too frequently to be taken seriously.”
Okiyi-Kalu referenced a previous allegation where Otti claimed ₦10 billion was missing. After Okiyi-Kalu provided details showing the money was paid to road contractors, Otti then suggested the funds were moved into 32 different accounts instead of contractor accounts.